segunda-feira, 11 de junho de 2012

Steve Keen : Why 2012 is Shaping Up to be a Particularly Ugly Year



 
At the high level, our global economic plight is quite simple to understand says noted Australian deflationist Steve Keen.

Banks began lending money at a faster rate than the global economy grew, and we're now at the turning point where we simply have run out of new borrowers for the ever-growing debt the system has become addicted to.

Once borrowers start eschewing rather than seeking debt, asset prices begin to fall -- which in turn makes these same people want to liquidate their holdings, which puts further downward pressure on asset prices:

More info : http://www.chrismartenson.com/blog/steve-keen-2012-particularly-ugly-year/76297